OFI Invest Asset Management Cuts Holdings in Analog Devices, Inc. $ADI

OFI Invest Asset Management reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 97.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 552 shares of the semiconductor company’s stock after selling 20,574 shares during the quarter. OFI Invest Asset Management’s holdings in Analog Devices were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ADI. Howard Hughes Medical Institute purchased a new position in shares of Analog Devices during the second quarter valued at approximately $25,000. Activest Wealth Management raised its stake in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in Analog Devices during the 2nd quarter valued at $26,000. Saudi Central Bank bought a new position in shares of Analog Devices during the 1st quarter valued at $39,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after buying an additional 95 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADI has been the topic of several research reports. Truist Financial raised their target price on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a research report on Friday, December 19th. BNP Paribas initiated coverage on shares of Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Piper Sandler set a $290.00 target price on shares of Analog Devices in a report on Tuesday, November 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $300.00 price target on shares of Analog Devices in a research report on Tuesday, November 25th. Finally, JPMorgan Chase & Co. upped their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $287.22.

Analog Devices Stock Up 0.3%

ADI opened at $276.73 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $284.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The stock has a market cap of $135.50 billion, a price-to-earnings ratio of 60.69, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The firm’s fifty day moving average is $251.82 and its 200 day moving average is $243.36.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the firm earned $1.67 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $234.95, for a total value of $2,349,500.00. Following the transaction, the chief executive officer owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $279.39, for a total transaction of $873,093.75. Following the transaction, the director directly owned 136,321 shares of the company’s stock, valued at $38,086,724.19. The trade was a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,419 shares of company stock valued at $10,249,017. Company insiders own 0.33% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.